BC Peace Region

February 1, 2011

Finavera is providing an update on the submission of the Environmental Assessment Applications for its 47 megawatt MW Tumbler Ridge and 77 MW Wildmare Wind Energy Projects in British Columbia. Finavera submitted the Applications for screening on November 30, 2010 and received comments from the Environmental Assessment Office.

 After reviewing those comments in detail, Finavera determined it would be prudent to address those comments in advance of the Applications being accepted for review. As such, Finavera took the opportunity to incorporate additional information in the application to ensure that all effects are adequately identified and addressed. This resulted in a delaying of submission for final screening. The updated Applications have now been delivered to the EAO and the screening process is underway.

We believe that taking the appropriate amount of time at the beginning of the Application process will provide both Finavera and the EAO with the strongest possible Applications, and facilitate both parties during the Application Review period. Finavera does not anticipate this will impact the Company’s overall Environmental Assessment or project timelines.